Anyone know about "Special Needs Trusts"?

Discussion in 'Financial, Disability and Legal Resources' started by artyreader, Jan 29, 2012.

  1. artyreader

    artyreader Member

    I just heard about it but would like to know more about what it entails (as it looks like I'm getting unexpected inheritance of $10,000 but I'm super low income, on SSI, Medi-Cal, Sect 8, etc and I don't want to jeopardize my benefits.)
    I'm not sure I want to spend it all down to $2,000 or less in just a month.
    Does anyone here have any knowledge or experience or advice--and/or can recommend a good lawyer in the Santa Barbara, Ventura or Los Angeles areas?
    Thanks in advance!
  2. TwoCatDoctors

    TwoCatDoctors New Member

    I can't stay on here long because I have to wait over a week to see a specialist about my legs that are so bad so sitting is uncomfortable.

    I know that with HUD Section 8, inheritance is usually okay to keep and call and speak with your caseworker right away to discuss that and anything you must do right now. You want to keep paperwork from lawyers or executors and a photocopy of any check you received on that. I'm not sure if you have to file income tax on anything from a trust but AARP runs free tax preparation clinics around various areas and you could get that info for free there. Here is the site for free AARP tax prep clinics: http://www.aarp.org/applications/VMISLocator/searchTaxAideLocations.action

    Below are two sites for you to read on trusts:

    http://www.ssa.gov/ssi/spotlights/spot-trusts.htm

    http://www.socialsecurityinsider.com/2008/10/ssi-settlementsinheritance-and-special-needs-trusts

    David Traver, an attorney representing SSD clients, runs an excellent web site (below) usually comprised of SSD attorneys, SSD judges (retired), some SSD employees that discuss SSD problems but remain hidden for fear of losing of losing their jobs. But they discuss great info. Check that site and see if there is info to help you or try posting there for help too.

    http://ssaconnect.com




    [This Message was Edited on 02/02/2012]
  3. artyreader

    artyreader Member

    I just got back to my computer after two days away for a family funeral (unrelated to my question above) but I just want to thank you profusely for all this info--I will look into it right away, and appreciate it so much.
    All the best to you about your legs; in my case I normally can't sit long at computer because of lower back degenerative disc disease/arthritis/scoliosis and fibromyalgia, so I understand about limiting time sitting at computer and am extra grateful to you in light of your leg problems.
    I'm sorry you have to wait a week to see leg specialist--I hope it will really help you.
    In appreciation and best wishes to you,
    Artyreader